Nikkei rebounds on short-covering; disappointing GDP caps gains

Redacción de Reuters

1 MIN. DE LECTURA

TOKYO, Feb 17 (Reuters) - Japan's Nikkei stock average edged
up on Monday, taking heart from gains on Wall Street, although
trade was choppy after weaker-than-expected economic growth data
soured investor sentiment.
The Nikkei ended 0.6 percent higher at 14,393.11,
snapping a two-day losing streak. Earlier in the session, the
benchmark shed as much as 0.7 percent to hit a 1-1/2-week low of
14,214.60 following the gross domestic product data, before
short-covering helped it erase losses.
Traders said many foreign investors were reluctant to take
on large positions due to a U.S. federal holiday and as the Bank
of Japan started a two-day policy meeting on Monday.
The broader Topix gained 0.7 percent to 1,192.05,
with 1.96 billion shares changing hands, the lowest volume since
Dec. 17.
The JPX-Nikkei Index 400, an index launched this
year comprised of firms with high return on equity and strong
corporate governance, advanced 0.6 percent to 10,776.25.